From Words to Wealth: Discover the Top 5 Ways to Monetize Your Novel!

Devlin Blake Author

Discover 5 top ways to monetize your fiction book! Learn about royalties, marketing, social media, merchandising, and more.

Transcript:

If you dream of making a living as a writer, then this video will show you how to make money writing fiction. It will share the mindset you need to succeed, as well as some misunderstandings when it comes to the wide world of getting paid to write.

Fact.

More self published writers are living at the midpoint now than ever before in human history, making 6 figures, going head to head with the traditional publishers and coming out on top.

It’s the third biggest publishing revolution in all of human history.

And I ‘m going to help you take full advantage of that.

Today, we’ll go over what you need to know in order to make it as a full time author and make money with your book.

Hi novelteer, I’m Devlin Blake, Novel Writing & self publishing Expert, Coach, published author, and former ghostwriter of over 200 books.

If you stick around until the end, I’ll reveal the best facebook group that help you get into a book business mindset. It’s actually filled with hundreds of authors who already make a full time living, some even making six figures. And full disclosure, it’s not my group.

Embrace Self Publishing

You know those six figure midpoint authors I mentioned?

They’re self published.

I’ve yet to meet, or even hear about a midpoint full time traditionally published writer. Even Tolkein had a day job.

That’s because traditional publishers live by the go big or go home model, and if you aren’t able to luck into big, then you won’t become a midpoint author with them.

There are many reasons for this.

One of them is that the average traditionally published book takes 18 months to get to market whereas self publishing can take only a few months or however fast you can get the books done.

Not to mention the royalty is way better. On Amazon you can get as much as 70% royalty on an Ebook, while with traditional publishing, you’d be lucky to get 10%.

Also, while traditional publishers focus on selling to bookstores, you get to focus on selling directly to your readers and giving them what they want. It also has the added advantage of being able to niched way down, which will delight your most loyal readers and is something that traditional publishing houses aren’t willing to do.

So let’s talk about how to get strategic with your book so you can make more money.

Choose Your Genre

Since the introduction of Kindle Direct Publishing in 2007 all books have become genre books, and that’s GOOD NEWS for writer's like you.

This is because genres come with a ready made audience who love that genre. All you have to do is get familiar with that genre, Discover what readers want to read, give it to them, and there you go.

Lifetime and Hallmark movies are both excellent examples of this, as they are genres. If I mention either of these types of movies, you have an idea of a very specific type of story. Their viewers aren’t the same people, but their viewers love their movies because they love this genre.

There are more genres before than ever before, 14,000 of them according to Amazon’s ranking system, so whatever you write, that means there’s a genre for it. And that means tropes, readers and an opportunity to be successful.

Create A Series

Do you know the secret of successful authors like Brandon Sanderson, Ruby Dixon, and Bella Forrest, and heck, even J.K Rowling, ?

They created a series instead of one single book. The harsh truth is, One book isn’t going to make you much money at all.

It just doesn't work that way. Even if you market the heck out of it. Let’s say you do market the heck out of it, and everyone buys it, reads and loves it.

Then what? You have no other book to sell them.

Series, sell.

A series can different books within the same story, Like Harry Potter (also known an ology)

They can be episodic featuring the same characters each time but each book is a stand alone. Mysteries like Nancy Drew are written this way.

A third way to do it is to feature different characters for each book, but it’s located in the world or family. Romances like Nocturne Falls or Shades of Vampire do this.

Get To Know Marketing (and Ads)

Amazon has ads. So does facebook, bookbub, and a lot of other sites. Marketing is the number one way to get your book out there, because it’s the fastest. Organic growth is a great long term strategy, but if you want to make money now, you need ads.

And they work too. I’ve actually bought books that I’ve seen on Facebook ads, and a lot of other people have to. Facebook lets you target the exact people you want. And sites like Bookbub and Amazon are filled with readers looking for a book like yours.

What are your thoughts on ads? Have you ever run one? Have you ever bought something from a facebook or Amazon ad? Answer in the comments.

Build Your List

You know the old saying the money is in the list?

Have you ever wondered what list they are talking about?

Well, in this case, it’s a list of your most loyal readers. Staying in close contact with your readers through social media, and with your own list is key to being able to grow, thrive and make a full time living as an author. If you can stay in close contact with your most loyal readers, you’ll have opportunities that other authors don’t.

For example, author Brandon Sanderson, (who writes the Earthsea Fantasy series) ran the fastest funded kickstarter in all of its history; bringing in over 41 million dollars from less than 200,000 people.

Where did those people come from?

They were his fans, which he took his time and care to cultivate. They came through for him, and they will come through for you.

We are on the cusp of a whole new era. The rise of the indie publisher is the third biggest publishing revolution in all of human history and it's just getting started.

There’s plenty of room to grow. Past publishing revolutions gave rise to writer's like Mark Twain and Charles Dickens, who were both commercial successes. This one can give rise to you.

Bonus Tip

Ok, here’s that facebook group I promised: it’s called 20 books to 50k. It’s named that because its founder discovered that on average, it takes around 20 books to make 50k a year. (which is not as many books as you think) It's a great place to get book marketing advice from people who are where you want to be. Many authors in this group are already making a full time living.

If you enjoy content like this, and would like to support my channel and future videos, be sure to check out my Patreon page. I have all kinds of levels, some as small as $5. Which will get you a transcript of this and other and videos, along with Early access. Until next time, this is Devlin Blake saying ‘Write On’.

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Categories: : storycrafting, Writers Block, writers marketing